Westgold Resources Limited, an Australian gold producer, is excited to announce an update on its ongoing Stage 3 Resource Definition drilling program at the Fletcher Zone, a new gold discovery within its Beta Hunt mine. The company is accelerating the program to rapidly unlock the value of this promising gold target.
Assay results from the first 8 holes of the Fletcher Stage 3 program have revealed significant gold intersections, including 4.00m at 22.45g/t Au in hole WF440N1-01AR and 5.00m at 10.95g/t Au in hole WF440N1-21AE. These results further confirm the potential of the Fletcher Zone to become a significant gold producer for Westgold.
To expedite the drilling program, Westgold is deploying two additional drill rigs to the Beta Hunt site, bringing the total to three. This will significantly accelerate the program, enabling the company to quickly define the resource potential of the Fletcher Zone.
The accelerated drilling program is expected to deliver a maiden Mineral Resource Estimate for the Fletcher Zone in late Q2/early Q3 FY25. The Fletcher Zone is strategically located parallel to the existing 1.6Moz Western Flanks system, which is currently the mainstay gold ore source for the Beta Hunt operation. Westgold is actively developing a decline from Western Flanks towards Fletcher, creating a new mining front for future production.
Wayne Bramwell, Managing Director and CEO of Westgold, commented, “The Fletcher Zone is key to expanding gold production at Beta Hunt. Accelerating drilling will rapidly unlock value at Fletcher. To date, only 32 drill holes have been completed in this emerging 2km long target, and Westgold is now mobilising an additional 2 drill rigs to Beta Hunt to accelerate this program.”
Westgold acquired the Beta Hunt operation as part of its merger with Karora Resources Inc. in August 2024. Beta Hunt was initially developed as a nickel mine and operated by Western Mining Corporation (WMC) in the 1970s. The mine was later acquired by Gold Fields in 2001 and then sold to Reliance Mining Limited in 2003. Salt Lake Mining Pty Ltd (SLM) acquired the property in 2013 and successfully recombined the nickel and gold rights. Karora Resources acquired 100% of SLM in 2016 and operated both gold and nickel mining operations until nickel operations were suspended in mid-2024 due to declining nickel prices.
The Fletcher Zone is a significant new discovery made by Karora Resources at Beta Hunt and has been drilled in a series of stages. The zone is interpreted to represent a new gold mineralized structure paralleling the Western Flanks deposit. The success of the exploration program confirms the existence of a third significant mineralized shear zone within the Beta Hunt sub-lease.
The Fletcher Zone is a promising addition to Westgold’s portfolio and holds the potential to significantly increase gold production at Beta Hunt. The company’s aggressive approach to unlocking the value of this new discovery is a testament to its commitment to growth and shareholder value.
